10,759 Shares in American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) Acquired by Cibc World Markets Corp

Cibc World Markets Corp bought a new stake in American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 10,759 shares of the auto parts company’s stock, valued at approximately $63,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Amundi lifted its stake in shares of American Axle & Manufacturing by 44.6% in the 4th quarter. Amundi now owns 90,902 shares of the auto parts company’s stock valued at $519,000 after purchasing an additional 28,055 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of American Axle & Manufacturing during the 4th quarter worth about $183,000. Dana Investment Advisors Inc. increased its holdings in shares of American Axle & Manufacturing by 30.4% during the 4th quarter. Dana Investment Advisors Inc. now owns 1,097,655 shares of the auto parts company’s stock valued at $6,399,000 after acquiring an additional 256,150 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of American Axle & Manufacturing by 6.9% in the 4th quarter. Bank of New York Mellon Corp now owns 811,481 shares of the auto parts company’s stock valued at $4,731,000 after acquiring an additional 52,142 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd lifted its holdings in American Axle & Manufacturing by 80.2% in the 4th quarter. Y Intercept Hong Kong Ltd now owns 64,701 shares of the auto parts company’s stock worth $377,000 after purchasing an additional 28,804 shares during the last quarter. 91.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on AXL shares. Morgan Stanley dropped their price target on shares of American Axle & Manufacturing from $10.00 to $8.00 and set an “overweight” rating on the stock in a research report on Monday, March 3rd. UBS Group dropped their target price on shares of American Axle & Manufacturing from $6.50 to $6.00 and set a “neutral” rating on the stock in a report on Tuesday, February 18th. TD Cowen began coverage on shares of American Axle & Manufacturing in a report on Friday, March 7th. They set a “hold” rating and a $5.00 price target for the company. StockNews.com lowered American Axle & Manufacturing from a “buy” rating to a “hold” rating in a research note on Monday, February 17th. Finally, Barclays decreased their target price on American Axle & Manufacturing from $8.00 to $7.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $6.69.

American Axle & Manufacturing Trading Down 4.1 %

Shares of AXL opened at $4.31 on Friday. The stock’s 50-day moving average price is $5.06 and its 200 day moving average price is $5.77. The company has a quick ratio of 1.25, a current ratio of 1.63 and a debt-to-equity ratio of 4.58. The firm has a market capitalization of $509.42 million, a price-to-earnings ratio of 15.38 and a beta of 1.85. American Axle & Manufacturing Holdings, Inc. has a 12-month low of $4.20 and a 12-month high of $7.98.

American Axle & Manufacturing (NYSE:AXL) last issued its earnings results on Friday, February 14th. The auto parts company reported ($0.06) EPS for the quarter, meeting analysts’ consensus estimates of ($0.06). American Axle & Manufacturing had a return on equity of 10.44% and a net margin of 0.57%. The business had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.39 billion. During the same period in the prior year, the company posted ($0.09) earnings per share. American Axle & Manufacturing’s revenue was down 5.6% on a year-over-year basis. As a group, research analysts predict that American Axle & Manufacturing Holdings, Inc. will post 0.57 earnings per share for the current year.

About American Axle & Manufacturing

American Axle & Manufacturing Holdings, Inc engages in the manufacture, engineering, design, and validation of driveline systems and related components. It operates through the Driveline and Metal Forming segments. The Driveline segment consists of axles, drive shafts, power transfer units, rear drive modules, and electric and hybrid driveline products and systems for light trucks, service utility vehicles, crossover vehicles, passenger cars, and commercial vehicles.